Coffee prices on December 28, 2024: Increase at the end of the week

On December 28, 2024, coffee prices recorded notable changes in both domestic and international markets. While domestic coffee prices continued their upward trend, the global market experienced a significant decline due to various influencing factors. Below is detailed information on domestic coffee prices, global coffee prices, and market insights.

Coffee prices on December 28 domestically

Today, domestic coffee prices continue to rise in key areas of growth in the Central Highlands. The increase ranged from VND 500 to VND 600/kg, bringing prices in many regions to their highest levels since the beginning of the year.

In Dak Lak, coffee prices were purchased at VND 122,000/kg, an increase of VND 500/kg compared to yesterday. Dak Nong continues to lead with the highest price of VND 122,300/kg, up by VND 600/kg. Meanwhile, in Lam Dong, coffee prices reached VND 121,500/kg, increasing by VND 500/kg.

Reasons for the increase in domestic coffee prices:

• Limited supply: Due to prolonged off-season rains in the Central Highlands, the coffee harvest has been delayed. Currently, only about 50% of the expected yield has been harvested, which is significantly lower than in previous years.
• Global prices remain high: Despite recent declines in global coffee prices, they are still considerably higher than at the beginning of the year, providing a boost to domestic coffee prices.
• Stable export demand: Vietnam continues to be a key coffee supplier on the international market, especially as major producing countries like Brazil and Colombia face production challenges

Coffee prices on December 28 globally

In contrast to the increase in the domestic market, global coffee prices today experienced a sharp decline on both the London and New York exchanges. This drop reflects broader market trends influenced by various global factors.

Robusta coffee prices on the London exchange

The price of Robusta coffee for the March 2025 contract saw the largest drop, losing $ 88/ton, down to $ 4,953/ton. Other contracts also recorded declines ranging from $ 28 to $ 69/ton, reflecting the overall downward trend in the global coffee market.

The price of Arabica coffee saw a slight decrease, with a drop of 1.5 to 2.3 cents/lb. The March 2025 contract decreased by 2 cents/lb, reaching 322.65 cents/lb.

$ 1 = VND 25.208 - Source: Vietcombank.